The American Express® Gold Card is a favorite among foodies and travelers. And it’s not hard to see why. With the card, you’ll earn 4X points per $1 at restaurants worldwide (up to $50,000 annually), 4X points at U.S. supermarkets (up to $25,000 annually), and 3X points on flights booked directly with airlines and on amextravel.com. Terms apply. Plus, you’ll earn a number of annual credits that you can Now more than the card’s annual fee. (See rates and fees.)
But the Amex Gold Card isn’t cheap. With the recent $75 fee increase, the $325 annual fee might be too much for some people, especially if you’re not interested in managing balances and points values. If you’re on the fence about the Amex Gold Card’s fee increase, these three free cards could easily replace it.
1. Capital One SavorOne
The Capital One SavorOne Cash Rewards Credit Card is a good old healthy food credit card that’s easy to use, easy to understand, and easy to leverage. The card gives you a flat 3% back at restaurants, grocery stores, entertainment, and popular streaming services. You can redeem the cash relatively quickly, making it ideal for a lifestyle of making money and burning it.
The card doesn’t have the highest earning rate on this list. But it has no annual fee, no cap on your earnings, and earns 10% back on Uber and Uber Eats purchases (through November 14, 2024). It’s one of my favorite grocery credit cards and I recommend it to anyone looking for a no-hassle credit card with cash back.
2. Citi Custom Cash® Card
The Citi Custom Cash® Card is a powerful piece of plastic that earns 5% back monthly in one eligible category from a list of 10. The two most relevant categories for this list are restaurants and grocery stores, although the card also allows you to earn 5% back at places like gas stations, drug stores, home improvement stores and health clubs.
What I like about this card is its versatility. It works well with other credit cards, especially those with rotating bonus categories that change quarterly. Because you know the 10 categories in advance, you can strategically choose when to use this card. For example, if you get 5% back at supermarkets for a quarter with your Discover it® Cash Back card, you can get 5% back at restaurants with this card.
One downside is the low rewards cap. With a $500 spending limit, your 5% bonus will earn you a maximum of $25 per month. That might be suitable for those with a $500 monthly grocery budget, but for those with larger spenders, you’ll likely want to supplement it with another card.
3. US Bank Altitude® Go Visa Signature® Card
For those who prefer to earn points rather than earn cash back outright, the US Bank Altitude® Go Visa Signature® Card is a strong choice. The card earns 4X points on dining, takeout, and restaurant delivery, and 2X points on streaming services. Since points are worth $0.01 each, this card essentially earns you 4% back when you eat out at restaurants. That’s comparable to the Amex Gold Card, just without the high annual fee.
The American Express® Gold Card certainly has a lot to offer. It offers you annual credits worth $424. If you can maximize those spending credits, this card will pay for itself and give you an extra $99 in value. That makes the Amex Gold Card one of the best cards for frequent restaurant goers and grocery shoppers—even with the steep fee increase. Compare it to the free credit cards above and see which one gives you more overall value for your spending.
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